Atos: Invest Securities still a seller

(CercleFinance.com) - The analyst believes that H1 2024 results came as no major surprise, even though they are not particularly exciting, especially for Eviden (if we exclude 2 management decisions (normalization of WCR and asset write-downs).


Now that restructuring is virtually locked in, the question is whether the situation will continue to deteriorate or normalize, and whether the financial restructuring will therefore be sufficient. In any case, it won't make much difference to the fate of current shareholders, who will find themselves massively diluted by the financial restructuring, Invest Securities says.

Before deciding whether or not to take part in the capital increase with preferential subscription rights, we reiterate our Sell rating and our target price of E0.01, which takes into account a massive increase in the number of shares (90bn vs. 111m currently), the broker adds.


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